e, Kuwait City

mailing address: P. O. Box 77 Safat, 13001 Safat, Kuwait Unit
69000, APO AE 09880-9000

telephone: [965] 539-5307

FAX: [965] 538-0282

Flag description: three equal horizontal bands of green (top),
white, and red with a black trapezoid based on the hoist side

Kuwait Economy

Economy - overview: Kuwait is a small, relatively open economy with
proved crude oil reserves of about 94 billion barrels - 10% of world
reserves. Petroleum accounts for nearly half of GDP, 90% of export
revenues, and 75% of government income. Kuwait's climate limits
agricultural development. Consequently, with the exception of fish,
it depends almost wholly on food imports. About 75% of potable water
must be distilled or imported. Higher oil prices put the FY99/00
budget into a $2 billion surplus. The FY00/01 budget covers only
nine months because of a change in the fiscal year. The budget for
FY01/02, which begins 1 April, contains higher expenditures for
salaries, construction, and other general categories. Kuwait
continues its discussions with foreign oil companies to develop
fields in the northern part of the country.

GDP: purchasing power parity - $29.3 billion (2000 est.)

GDP - real growth rate: 6% (2000 est.)

GDP - per capita: purchasing power parity - $15,000 (2000 est.)

GDP - composition by sector: agriculture: 0%

industry: 55%

services: 45% (1996)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: NA%

highest 10%: NA%

Inflation rate (consumer prices): 3% (2000)

Labor force: 1.3 million (1998 est.)

note: 68% of the population in the 15-64 age group is non-national
(July 1998 est.)

Labor force - by occupation: agriculture NA%, industry NA%, services
NA%

Unemployment rate: 1.8% (official 1996 est.)

Budget: revenues: $11.5 billion

expenditures: $17.2 billion, including capital expenditures of $NA
(FY01/02)

Industries: petroleum, petrochemicals, desalination, food
processing, construction materials

Industrial production growth rate: 1% (1997 est.)

Electricity - production: 31.567 billion kWh (1999)

Electricity - production by source: fossil fuel: 100%

hydro: 0%

nuclear: 0%

other: 0% (1999)

Electricity - consumption: 29.357 billion kWh (1999)

Electricity - exports: 0 kWh (1999)

Electricity - imports: 0 kWh (1999)

Agriculture - products: practically no crops; fish

Exports: $23.2 bil